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Data license agreements (DLA), or data use agreements (DUA) are documents that describe what kind of data is being shared with recipients. A DLA clearly states the purpose and duration of access being provided to the recipient, along with restrictions and security protocols that the recipient of the data must follow.
A straightforward licensing deal can be concluded within a few months if both parties are motivated and the intellectual property (IP) is not overly complex. However, more intricate deals, especially those involving multiple jurisdictions or cutting-edge technology, can take upwards of a year or more.
An example of a licensing agreement in the restaurant space would be when a McDonald's franchisee has a licensing agreement with the McDonald's Corporation that lets them use the company's branding and marketing materials.
Key Takeaways. A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.
Most licensing agreements specify the duration of the license and specific monetary arrangement between two companies or individuals. Typically, after a specific date, a company's license to market a licensor's products expires, and the licensee cannot continue selling the licensor's products without permission.
or threeyear term is common. The word ?terminate? is generally used in two senses in a license agreement, both meaning the agreement ends. One sense is the natural end to the ?term? of the contract. A license agreement with a twoyear term will terminate two years after the effective date.
A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor.
A content licensing agreement allows companies to repurpose or republish material through a legal contract. Often called a copyright license, it's a flexible solution for companies that wish to distribute previously published materials.